Hewlett Packard Rides Q1 Figures to Solid Open

Hewlett Packard Enterprise Co (NYSE: HPE) gained ground Friday, after the company reported better-than-expected results for its first quarter. The company also issued strong FY18 guidance.

The San Jose-based HPE reported first-quarter net revenue of $7.7 billion was up 11% from the prior year and up 9% when adjusted for currency.

First quarter GAAP diluted net earnings per share from continuing operations was $0.92, up from GAAP diluted net EPS from continuing operations of $0.15 in the prior-year period.

CEO Antonio Neri said "our strong Q1 performance is proof that we have the right strategy and improved execution.

"We had good revenue growth across every business segment, continued to execute HPE Next with no disruption to the business, and delivered strong shareholder return in the form of share repurchases and dividends."

For the fiscal 2018 second quarter, Hewlett Packard Enterprise estimates GAAP diluted net EPS to be in the range of $0.10 to $0.14 and non-GAAP diluted net EPS to be in the range of $0.29 to $0.33.

For fiscal 2018, Hewlett Packard Enterprise now estimates GAAP diluted net EPS to be in the range of $1.35 to $1.45.

HPE reiterated its status as a company that "enables customers to go further, faster. With the industry’s most comprehensive portfolio, spanning the cloud to the data center to workplace applications, our technology and services help customers around the world make IT more efficient, more productive and more secure."

HPE shares leaped $1.51, or 9.2%, to $17.92, in a 52-week trading range of $12.81 to $24.86.